Reinsurance News
Results news
News on reinsurance and insurance company quarterly and annual results or reporting. Detailing news on the financial performance of insurance and reinsurance underwriting companies and brokers.
Beazley’s Q1 GWP rise 12% driven by solid growth in cyber & property lines
12th May 2023
Specialist re/insurer Beazley has reported that Q1 2023 gross written premiums increased by 12% YoY to $1.37 billion as the firm remains "confident of delivering strong growth and profitability." According to Beazley, its Cyber Risks class performed well with 24% growth in Q1 ($280 million of GWP), reflecting expansion in Europe ... Read the full article
SCOR posts improved Group net income in Q1 2023
12th May 2023
French reinsurer SCOR has reported Group net income of EUR 311 million in the first quarter of 2023, compared with a net loss of EUR 35 million a year earlier, although insurance revenue declined 4% to EUR 3.9 billion. Across the Group, gross written premiums (GWP) fell by 0.7% year-on-year to ... Read the full article
Liberty Mutual falls to Q1 loss of $74 million as catastrophes take heavy toll
11th May 2023
Liberty Mutual Holding Company has reported a net loss of $74 million in Q1 of 2023, which the firm's CEO attributes primarily to "elevated catastrophe losses largely driven by severe weather storms across the Midwest." The reported Q1 net loss compares to a net income attributable to Liberty Mutual of $498 ... Read the full article
Brookfield Reinsurance posts Q1’23 net loss vs year-ago net income
11th May 2023
Brookfield Reinsurance reported a net loss of $93 million in the first-quarter of 2023, compared to a net income of $156 million in Q1'22. This loss was driven largely by unrealized mark-to-market impacts on investments and insurance reserves, partially offset by the contribution of Distributable operating earnings (DOE), the company said. The ... Read the full article
Hannover Re’s underwriting performance improves as net income climbs in Q1 2023
11th May 2023
Global reinsurer Hannover Re has reported reinsurance revenue of EUR 6.6 billion for the first quarter of 2023, as the reinsurance service result increased 35% year-on-year to EUR 568 million, despite large losses from catastrophes amounting to EUR 334 million. All in all, Hannover Re has reported a rise in Group ... Read the full article
Ark sees improved CR supported by increased capacity from Outrigger Re
10th May 2023
White Mountains has released its first quarter results for 2023, reporting that its Ark partner firm saw gross written premiums (GWP) rise 28%, and an improved combined ratio of 94% when compared to the 100% reported in the same period last year. According to the announcement, Ark’s combined ratio for Q1 ... Read the full article
ProAssurance posts bigger Q1’23 net loss
10th May 2023
ProAssurance Corporation reported a net loss of $6.2 million in first quarter of 2023, compared with $3.6 million in Q1'22. The specialty insurer posted an operating loss of $8.1 million, compared with $7.7 million a year ago. The gross premiums written (GPW) for the first quarter of 2023 fell by 5.9% to ... Read the full article
Assured Guaranty sees improved net income in Q1
10th May 2023
Assured Guaranty, a financial guaranty insurer, has reported a net income of $81 million for the first quarter of 2023. The income figure represented an improvement on the $66 million the company recorded in the same period last year. Moreover, Assured Guaranty’s insurance segment’s adjusted operating income was $117 million for Q123, ... Read the full article
BRP Group posts net loss in Q1’23 vs year-ago net income
10th May 2023
Independent insurance distribution firm BRP Group has reported a net loss of $14.1 million in the first quarter of 2023, compared to a net income of $22.8 million reported in the same prior-year period. The group also said that its revenue increased 36%, from $242.8 million reported in the first quarter ... Read the full article
Lincoln Financial reports net loss for Q1 2023 of $909 million
10th May 2023
Lincoln Financial Group has reported a net loss available to common stockholders for Q1 2023 of $909 million, compared to net income available to common stockholders in Q1 2022 of $1.481 billion. The company reported the reason for this net loss was primarily driven by unfavourable impacts from a portion of ... Read the full article
Ambac falls to Q1 loss despite Everspan premium surge
10th May 2023
Financial services holding company Ambac has reported a net loss of $33.4 million for the first quarter of 2023, having reported a positive income result of $2.0 million for the same period last year. This was despite Ambac more than doubling its gross written premium to $60.7 million over the same ... Read the full article
Skyward reports improved combined ratio of 90.2% despite higher cat losses
10th May 2023
Specialty insurance firm Skyward Specialty Insurance Group has published its first quarter of 2023 results, reporting a net income of $15.6 million and an improved combined ratio of 90.2%. In the same period last year, the insurer reported a net income of $16.3 million and a combined ratio of 91.9%. Gross written ... Read the full article
HCI grows income to $17.8 million in Q1
10th May 2023
HCI Group, a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, has reported net income of $17.8 million for the first quarter of 2023. The income figure represented an improvement on the $2.8 million that the company posted for the same period last year. Pre-tax income ... Read the full article
Greenlight Re sees Q1 GWP rise 27.8% as net income hits $5.9 million
10th May 2023
In its Q1 2023 results, Greenlight Re has reported that gross written premiums (GWP) increased 27.8% to $186.5 million, which the firm attributed to new opportunities and improved pricing on property and general liability business, as well as several new specialty contracts bound during the quarter. Greenlight Re's net income in ... Read the full article
“Q1 a demonstration of the quality of our book of business,” says Palomar CEO
9th May 2023
"The first quarter was a demonstration of the quality of our book of business and our ability to navigate the choppy waters of this hard reinsurance market," says Palomar Holdings CEO Mac Armstrong. Armstrong states that Palomar successfully placed $188 million of incremental excess of loss reinsurance limit during Q1 to ... Read the full article
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